Wintermar to issue new shares

Jakarta: Wintermar Offshore Marine, an Indonesian offshore service provider, is planning to raise about IDR307bn for fleet expansion through issuing 340m new shares.

Wintermar said the offshore sector is supported by a combination of high exploration activity and strict implementation of cabotage and this could lead to stronger growth in all business areas as well as improved margins.

"We remain optimistic about the long-term prospect in the oil and gas industry of Indonesia as some major development projects will start in the coming months," said Pek Swan Layanto head of the corporate planning department. [05/06/14]

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